10 Year Treasury Note Non-Commercial Positions:
Large speculators and traders continued to bet against the 10-year treasury note in the futures markets last week, according to the latest Commitment of Traders (COT) data released by the Commodity Futures Trading Commission (CFTC) on Friday.
The non-commercial futures contracts of 10-year treasury note futures, traded by large speculators and hedge funds, totaled a net position of -394,689 contracts in the data reported through January 10th. This was a weekly rise in bearish positions by -49,758 contracts from the previous week which had a total of -344,931 net contracts.
Speculators boosted their bearish bets for a third straight week to an almost -400,000 level while the commercial traders have been even more busy buying the 10-year note futures and holding over +600,000 net contracts last week (below).
10 Year Treasury Note Commercial Positions:
Free Reports:
The commercial traders position, categorized by the CFTC as hedgers or traders engaged in buying and selling for business purposes, totaled a net position of 644,559 contracts last week. This is a weekly rise of 95,862 contracts from the total net of 548,697 contracts reported the previous week.
Over the same weekly reporting time-frame, from Tuesday to Tuesday, the 7-10 Year Treasury Bond ETF (IEF) closed at approximately $105.44 which was an advance of $0.67 from the previous close of $104.77, according to market data.
*COT Report: The COT data, released weekly to the public each Friday, is updated through the previous Tuesday (data is 3 days old) and shows a quick view of how large speculators or non-commercials (for-profit traders) as well as the commercial traders (hedgers & traders for business purposes) were positioned in the futures markets. The CFTC categorizes trader positions according to commercial hedgers (traders who use futures contracts for hedging as part of the business), non-commercials (large traders who speculate to realize trading profits) and nonreportable traders (usually small traders/speculators). Find CFTC criteria here: (http://www.cftc.gov/MarketReports/CommitmentsofTraders/ExplanatoryNotes/index.htm).
Article by CountingPips.com
